German DIY chain Hornbach has adjusted its full fiscal year profit forecast after its operating income was hammered in the third quarter, partially because of higher costs.
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Kingfisher's third quarter of 2015 was not as well as it had hoped, with a 6 % profit drop. The DIY company, which owns chains like B&Q, Screwfix, Castorama and Brico Dépôt, did perform well in Great Britain however.
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Several months after its engagement to Kingfisher was annulled, another interested party has wooed French DIY chain Mr. Bricolage. This time, the admirer is the much smaller Bricorama, but Mr. Bricolage is not interested.
While Kingfisher is in the process of closing down 15 % of its B&Q stores, it has announced it will open 200 Screwfix stores. The transition fits the current trend of stepping away from "do it yourself" and moving towards "get it done", as Screwfix mostly focuses on professionals.
Procter & Gamble has appointed David Taylor as its new CEO. A.G. Lafley, the previous CEO, guided Taylor into his new position and will now become chairman of the board.
DIY group Maxeda, which owns chains like Brico and Praxis, has sold the majority of its shares to the French investor Ardian and the American Goldentree Asset Management group.
French DIY chain Mr Bricolage has launched its "La Dépanne" platform, the very first community-based DIY platform for people who want to rent materials. The company also hopes to attract a younger audience with this new platform.
Kevin O'Byrne, CEO of DIY chain B&Q, is rumoured to be leaving the company as its parent company Kingfisher has prepared some restructuring plans.
British DIY group Kingfisher and French Mr. Bricolage seem to have had a rough ride in their 'engagement': the rift may even cause the previously-announced acquisition to falter.
The Belgian branch of the Gamma DIY chain, which all belongs to the Dutch construction group Intergamma, has managed to lift its market share by 0.1 % to 14.4 %. In the Netherlands, the group's market share has risen to 41.3 %.
British DIY chain Kingfisher may lose a lot of profit in the next few years as a Swiss policy change may impact the Polish currency, which is good for 10 % of the group's turnover.
British DIY chain Kingfisher will sell its 70 % share of B&Q China to Wumei Holding for 180 million euro. The Chinese chain's turnover dropped steadily over the past few years and Kingfisher Group had stated in March 2014 it was on the lookout for a possible partner to help boost the chain's turnover.
A Forest Stewardship Council inquiry into the Belgian DIY chains has shown that an increasing number of wood products carry the organization's certificate, which denotes the use of sustainable wood cutting practices.
Kingfisher, Europe's largest DIY group, is facing some problematic situations. Its French market is especially worrisome, but the group has basically only established growth in its British home territory.
An ABN Amro study has revealed that the DIY branch in the Netherlands will have to face a shrink as the store areas are too large compared to current turnover levels.
Maxeda's DIY chains, put up for sale in May, may no longer be for sale as the received offers (from Brico and Praxis among others) are way below expectations.